JD.com leads losses in Hong Kong, falling 10% after Walmart confirms stake sale

Group 1 - The U.S. Securities and Exchange Commission has added over 80 firms, including JD.com, to its list of entities facing possible expulsion from American exchanges [1] - JD.com's shares fell 10% in Hong Kong after Walmart announced it will sell its stake in the company [1] - Walmart's decision to sell its stake is aimed at focusing on its operations in China and reallocating capital to other priorities [1] Group 2 - Walmart initially entered a strategic alliance with JD.com in June 2016, acquiring a 5% stake [2] - As of March 31, 2023, Walmart owns 9.4% of JD.com's ordinary shares, totaling over 289 million shares [2] - JD.com did not provide a comment regarding Walmart's decision when contacted [2]